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Fly News Breaks for March 3, 2016
JCP
Mar 3, 2016 | 19:58 EDT
Evercore ISI analyst Omar Saad upgraded J.C. Penney to Buy saying the retailer's recent outperformance relative to peers is a sign that its sales, margin, and free cash flow will continue to "materially improve." Earnings growth and financial deleveraging should create "significant shareholder value," Saad told investors in a research note. He has a $15 price target for the shares. Penny closed the trading day up 26c to $10.84.
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